Subsea 7 to establish an energy transition R&D organization & investment program

Oil&Gas Materials 10 March 2021 15:07 (UTC +04:00)
Subsea 7 to establish an energy transition R&D organization & investment program

BAKU, Azerbaijan, March 10

By Leman Zeynalova - Trend:

Subsea 7 plans to establish an energy transition R&D organization and investment program in 2021, Trend reports citing the company.

The company wants to continue to grow its renewables business unit and its capabilities this year.

Global demand for energy continues to grow and, as a preferred partner of choice to the offshore energy industry, Subsea 7 will play a proactive role in the construction of sustainable offshore energy developments around the world and will support the transition of supply towards lower-carbon sources of energy.

Seaway 7 is the renewables business unit of Subsea 7 and has an established position in the renewables supply chain, providing its clients with foundations and cable-lay services for the construction of offshore wind farms. With over 10 years of experience, Subsea 7 has built and installed hundreds of foundations and kilometres of inner-array cables for fixed offshore wind farms worldwide.

The levelized cost of electricity (LCOE) from offshore wind has decreased significantly over the last 10 years, driven by increased efficiency in transportation and installation, bigger turbines, and cost improvements in the supply chain. As a result of these cost reductions, supported by the capability and expertise of contractors such as Subsea 7, offshore wind farms are now economically viable at significantly lower levels of government subsidy.

The global offshore wind farm market has grown rapidly with more than 30 GW of capacity anticipated to be installed by the end of 2020 globally. Looking ahead, further significant growth is projected as society looks to increase investment in renewable energy and carbon-neutral alternatives.

“We utilise our skilled people and their wealth of marine construction expertise together with our construction vessels, equipment and facilities to develop and deliver the best and most cost-efficient offshore wind farm solutions. We have many years of experience in heavy lifting and cable lay in harsh marine environments that is invaluable for the installation of offshore wind farms. Over time we expect that this will result in a growing proportion of our activity coming from renewable energy services. Floating offshore wind is the next most promising growth area for offshore renewables. Floating wind offers the possibility to further support energy transition by allowing greater quantities of offshore wind to be developed by using areas where the water is too deep to allow the construction of fixed offshore wind farms,” said the company.


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